SPC(002573)2025-04-17 12:45Financial Performance - The company's operating revenue for 2024 was ¥8,716,335,330.31, representing a 1.18% increase compared to ¥8,614,465,502.98 in 2023[18]. - The net profit attributable to shareholders for 2024 was -¥378,210,307.39, a decrease of 396.95% from ¥127,365,346.64 in 2023[18]. - The net cash flow from operating activities increased by 70.11% to ¥1,491,789,057.39 in 2024, up from ¥876,945,614.31 in 2023[18]. - The basic earnings per share for 2024 was -¥0.2690, a decline of 401.57% from ¥0.0892 in 2023[18]. - Total assets at the end of 2024 were ¥24,794,528,756.03, a 0.97% increase from ¥24,557,133,241.28 at the end of 2023[18]. - The net assets attributable to shareholders decreased by 7.61% to ¥5,917,504,105.73 at the end of 2024, down from ¥6,404,871,121.86 at the end of 2023[18]. - The company reported a significant decline in net profit, indicating potential challenges in future operations[18]. - The company has faced uncertainties regarding its ability to continue as a going concern, as indicated by the negative net profits over the last three accounting years[18]. Revenue Breakdown - The company’s revenue after deducting non-operating income was ¥8,701,680,845.28 in 2024, compared to ¥8,600,041,380.40 in 2023[18]. - In Q1 2024, the company reported revenue of approximately $2.15 billion, with a significant increase to about $2.83 billion in Q4 2024, indicating a quarterly growth of approximately 31.5%[22]. - The net profit attributable to shareholders was negative in Q2, Q3, and Q4 2024, with a loss of approximately $437.65 million in Q4, compared to a profit of about $118.08 million in Q1 2024[22]. - The net cash flow from operating activities showed a positive trend, increasing from approximately -$132.63 million in Q1 to about $887.93 million in Q4 2024[22]. - The total revenue for the environmental industry in 2024 is ¥7,249,101,839.23, representing a year-on-year increase of 2.34% compared to ¥7,083,073,533.55 in 2023[76]. - Atmospheric business revenue decreased by 21.41% to ¥1,814,995,341.54 in 2024, down from ¥2,309,357,185.75 in 2023, accounting for 25.04% of total operating costs[77]. - Water business revenue increased by 7.45% to ¥1,647,257,531.60 in 2024, compared to ¥1,533,057,312.89 in 2023, representing 22.72% of total operating costs[77]. - Resource business revenue grew by 20.73% to ¥3,268,752,652.57 in 2024, up from ¥2,707,386,106.49 in 2023, making up 45.09% of total operating costs[77]. Government Support and Subsidies - The company received government subsidies amounting to approximately $73.75 million in 2024, compared to $84.15 million in 2023, indicating a decrease of about 12.5%[24]. Market Expansion and Strategic Initiatives - The company is actively expanding into new markets and sectors, focusing on green and low-carbon technologies, aligning with national policies promoting environmental sustainability[30]. - The company is leveraging digital technologies such as AI and big data to enhance environmental governance efficiency, indicating a strategic shift towards innovation in ecological management[32]. - The company aims to align with the "dual carbon" goals set by the government, which are expected to drive long-term demand for carbon reduction and pollution control solutions[30]. - The company is exploring mergers and acquisitions to strengthen its position in the green technology sector, reflecting a proactive approach to market expansion[32]. - The company is focused on aligning with national green and low-carbon policies during the 14th Five-Year Plan period to seize strategic development opportunities[44]. - The company is committed to low-carbon technology reserves and is actively developing energy-saving services in industries such as glass, cement, and electronics[50]. Research and Development - The company emphasizes technology innovation as the core engine for profit growth, with a focus on R&D investment and technology transformation to enhance revenue contribution[45]. - The company has developed the SPC-3D technology for ultra-low emissions and is expanding its application to various industries, including steel and petrochemicals, with stable operations expected in the Yukun Steel project in 2024[45]. - The company has initiated 12 projects focusing on the industrialization of advanced technologies across air, water, and energy-saving sectors, showcasing innovation in application fields and business models[47]. - The company has completed significant advancements in its research projects, including a new hexagonal grid structure that reduces production costs by about 43.3%[81]. - The company is developing a new low-temperature desulfurization and denitrification integrated technology, which is expected to significantly enhance energy efficiency and reduce costs by approximately 30%[81]. - The total research and development expenditure increased by 10.68% to approximately ¥352.48 million, representing 4.04% of operating revenue[86]. Corporate Governance and Management - The company has established a modern, professional, and efficient organizational structure to enhance its competitive edge and ensure sustainable development[51]. - The company has a structured remuneration system that includes basic salary and performance bonuses for non-independent directors[155]. - The company has established a remuneration and assessment committee to review the annual remuneration of senior management[155]. - The company is committed to maintaining transparency and protecting the rights of all shareholders[161]. - The company is focused on improving its governance structure and operational efficiency[161]. Employee and Shareholder Information - The total number of employees at the end of the reporting period was 6,864, with 961 in the parent company and 5,903 in major subsidiaries[166]. - The company implements a labor contract system and provides labor security plans, including various insurances and housing funds[168]. - The profit distribution policy is in line with the company's articles of association, ensuring clear dividend standards and protecting minority investors' rights[172]. - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the annual period[173]. - The company has a total of 14.7 million shares held by its current directors, with no changes reported during the period[138]. Future Outlook - The company plans to focus on comprehensive energy services and enhance key technology research and development[115]. - The company anticipates that 2025 will be a critical year for summarizing achievements and laying the groundwork for future development[116]. - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the market[139]. - The company has set ambitious growth targets for the upcoming fiscal year, aiming for a revenue increase of at least 20%[139].